The Congressional Budget Office last week released updated historical budget data for the federal government, reporting a deficit of $1.087 trillion in fiscal 2012. 2012 marked the fourth straight year—and the only four years in the history of the nation--when the federal government’s deficit topped $1 trillion.
“Tonight the American people witnessed a remarkable and alarming event: the Senate’s Democrat majority declared they do not want to balance the budget, will not balance the budget, and will oppose any effort to balance the budget in any way," Sessions said after the vote.
Rep. John Conyers (D-Mich.), the ranking member of the House Judiciary Committee, said on Thursday that the nation’s current debt of $16.7 trillion is “not endangering” the country, adding that “some debt is not a bad idea” and that he and other congressional Democrats “don’t think there’s a problem.”
Democrat, Liberal, Government, Incompetence, Obama, Financial, Debt
Missouri Democrat Sen. Claire McCaskill said on Wednesday that America's $17 trillion debt threatens to put the nation "in a position where we're not a first-tier nation anymore." McCaskill added, "I do believe a $17 trillion debt is irresponsible. I do believe that."... U.S. debt has skyrocketed under President Barack Obama. In Jan. 2009, U.S. debt stood at $10.6 trillion. Today, according to the U.S. Department of the Treasury, America's debt is $17.5 trillion--an increase of $6.9 trillion.
Democrat, Financial, Oops, Debt
During a House Financial Services Committee hearing Tuesday on the budget, two Democrats complained after House Financial Services Committee chairman Jeb Hensarling instructed that two monitors in the hearing room display a real-time running national debt clock. California Rep. Maxine Waters and Minnesota Rep. Keith Ellison both issued complaints about the displays, according to video of the hearing.
Democrat, Incompetence, Character, Financial, Brilliance, Debt
Three congressional Democrats are introducing a bill Wednesday that would abolish the federal debt ceiling.
Democrat, Liberal, Incompetence, Obama
The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates.
Since President Barack Obama took office in January 2009, more than $6 trillion dollars has been added to the national debt. "Without fanfare, the Bureau of Public Debt at the Treasury Department quietly posted its daily debt report showing the total public debt of the U.S. government topped $16.687 trillion.
Democrat, Government, Incompetence, Debt
“I don’t think you can get there in ten years. I think it’s going to take a longer time [because] we’ve dug such a deep hole. We turned a $5.6 trillion [projected] surplus into $5 trillion in additional debt.”
Incompetence, Obama, Financial, Debt
TAPPER: The president seems to think that that borrowing money to pay the interest on the debt is not adding to the debt. I don't understand that math.
CARNEY: What the president made clear is that we need to get to a place -- and his budget absolutely does this -- where we are no longer spending more than we're taking in.
Democrat, Hypocrisy, Liberal, Incompetence, Obama, Financial, Debt
“Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren,” Obama said in 2006. “America has a debt problem and a failure of leadership.” Obama later missed two votes in 2007 and 2008 while campaigning for president. Many Democrats who opposed the 2006 increase flipped their position once they took control of the Senate.
Democrat, Liberal, Incompetence, Obama, Financial, Debt
It took just 7 months for the National Debt to increase from $13 trillion on June 1, 2010 to $14 trillion on Dec. 31.
"The day of reckoning is here," said David Walker, the former U.S. comptroller general who has been warning about the nation's long-term fiscal problems for several years. "We're at the end of an era where we have Democratic spending policies and Republican tax policies," he said. "The result has been huge deficits and mounting debt burdens. It doesn't work."
Democrat, Liberal, Incompetence, Obama, Financial, Economy, Debt
New numbers posted today on the Treasury Department website show the National Debt has increased by more than $3 trillion since President Obama took office.
Democrat, Liberal, Incompetence, Obama, Economy, Debt
In the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 trillion, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan.
Democrat, Government, Incompetence, Financial, Scandal
The federal government has accumulated more new debt--$3.22 trillion ($3,220,103,625,307.29)—during the tenure of the 111th Congress than it did during the first 100 Congresses combined,
Democrat, Funny, Oops, Debt
Vice President Biden chose an inopportune time for either a nap or some deep reflection today. As President Obama weighed in on one of the most important issues of the day, outlining his plan to deal with deficit reduction and attack the national debt, at least one audience member did not appear to be fully engaged.
Democrat, Liberal, Incompetence, Obama, Debt
Why are we doing all this when the most powerful person in these negotiations — our president — has failed to lead this debate or offer a serious proposal for spending and cuts that he would be willing to fight for?
Democrat, Liberal, Government, Incompetence, Obama, Oops, Economy, Debt
Sen. Michael Bennet’s recent appearance in Greeley, Colorado is sure to set political tongues wagging–Bennet is quoted as saying that though trillions of dollars of Federal debt has been incurred through spending since he was appointed to the Senate in January of 2009, “we have nothing to show for it”.